Golden Matrix is showing off its global ambitions after it agreed a deal to purchase south-east European operator MeridianBet for around $300m.
Headquartered in Malta, MeridianBet operates in several markets globally and is live in markets such as Europe, Africa and Latin America.
Under the terms of the deal, Golden Matrix will pay a price of around $70m in chas and will issue around 65.3 million shares to MeridianBet shareholders, set at $3.50 each.
Zoran Milosevic, CEO of MeridianBet, commented: “Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US.
“Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition.”
Golden Matrix explained that the acquisition will allow access to new markets globally whilst creating a combined group of profitable and cash-positive companies, which will give it ‘enhanced buying power’.
It noted that with MeridianBet’s growth at 38% YoY in terms of revenues, and Golden Amtrix’s 6.8 million registered users, will result in ‘complementary aspects of the business and a significant increase in market share for both companies’.
Brian Goodman, CEO of Golden Matrix, added: “We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets.
“MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology.
“We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate.”
Following closure, William Scott will be joining as the Chairman of the MeridianBet board. A gaming industry veteran, Scott currently acts as an advisor to the group.